1. Ismi, Asad. “The World Bank: False Profit in the Developing World” Canadian Dimension 1998. EBSCO Host, Rensselaer Polytechnic Institute Library.
2. Asad Ismi works for the Canadian Center for Policy Alternative Monitor. This is the largest left-wing Canadian magazine in publication. Most of his work is on international politics with a focus on Canadian and U.S. affairs.
3. The World Bank has a record of enforcing destructive requirements on it loans. These requirements are forcing developing nations into positions of perpetual debt. The original intent of such requirements are to ensure the Bank is repaid, however this often sets the country up for unsustainable practices in search of profits.
4. In Latin American, after imposing policies of the World Bank the region’s population living below the poverty line has increased. This is the result of reduced food subsidies, health care programs and educational programs because of a need to repay loans.
In 1990 Peru opened its market to U.S. corn, this was after accepting money from the World bank, one of the stipulations was to change its policy toward foreign goods. By 1995 corn production in Peru was reduced by 10 fold.
By the Banks own calculation there in an increase was a 50% increase in the number of people living in poverty between 1990 and 2000, form 200 million to 300 million. Along with other such statistics the it is shown that the Bank’s influence in Africa has had little to no effect in bring people out of poverty, in some cases it has been able to worsen the situation.
5. "Not since the conquistadors plundered Latin America has the world experienced such a flow in the direction we see today." Former World Bank Director.
About Africa, the concerned World Bank chief economist has admitted: "We did not think that the human costs of these [structural adjustment] programs could be so great and the economic gains so slow in coming." The Bank predicts that by the year 2000, 300 million Africans will be living below the poverty line, a 50 per cent increase over 200 million in 1994.
"Make the Chilean economy scream." Richard Nixon, referring to the work to destabilizing the Chilean government.
6. The policy of the World Bank are intended to ensure a return on investment, this is done through manipulation of the countries receiving loans. The week position these countries inhabit leaves no other option except to accept the terms, leading to devastating social and economic consequences, as seen in South America and Africa. The U.S. provides much of the money and economic support of the bank. So work to use this power to further political goals at the expense of the people in need of financial aid. These politician are working to further the interests of Americans, often these interests only involve an ever increasing standard of living and consumption.
7.
The quote by President Nixon is an excellent example of American politicians using their influence over the World Bank and other financial organizations to subjugate other nations. This mentality can be seen across much of the dealings with other nations in this region. Also such actions have degraded the political systems of the region for decades that many of these countries are becoming burdens of the world economy. if such actions were never taken this burden would never have been created.
Another section of the article discussed the flow of wealth form these nations to Europe and the U.S. This became the new form of colonialism, extracting resources form conquer nations. The article gives examples of this happening in both Africa and South America.
2. Asad Ismi works for the Canadian Center for Policy Alternative Monitor. This is the largest left-wing Canadian magazine in publication. Most of his work is on international politics with a focus on Canadian and U.S. affairs.
3. The World Bank has a record of enforcing destructive requirements on it loans. These requirements are forcing developing nations into positions of perpetual debt. The original intent of such requirements are to ensure the Bank is repaid, however this often sets the country up for unsustainable practices in search of profits.
4. In Latin American, after imposing policies of the World Bank the region’s population living below the poverty line has increased. This is the result of reduced food subsidies, health care programs and educational programs because of a need to repay loans.
In 1990 Peru opened its market to U.S. corn, this was after accepting money from the World bank, one of the stipulations was to change its policy toward foreign goods. By 1995 corn production in Peru was reduced by 10 fold.
By the Banks own calculation there in an increase was a 50% increase in the number of people living in poverty between 1990 and 2000, form 200 million to 300 million. Along with other such statistics the it is shown that the Bank’s influence in Africa has had little to no effect in bring people out of poverty, in some cases it has been able to worsen the situation.
5. "Not since the conquistadors plundered Latin America has the world experienced such a flow in the direction we see today." Former World Bank Director.
About Africa, the concerned World Bank chief economist has admitted: "We did not think that the human costs of these [structural adjustment] programs could be so great and the economic gains so slow in coming." The Bank predicts that by the year 2000, 300 million Africans will be living below the poverty line, a 50 per cent increase over 200 million in 1994.
"Make the Chilean economy scream." Richard Nixon, referring to the work to destabilizing the Chilean government.
6. The policy of the World Bank are intended to ensure a return on investment, this is done through manipulation of the countries receiving loans. The week position these countries inhabit leaves no other option except to accept the terms, leading to devastating social and economic consequences, as seen in South America and Africa. The U.S. provides much of the money and economic support of the bank. So work to use this power to further political goals at the expense of the people in need of financial aid. These politician are working to further the interests of Americans, often these interests only involve an ever increasing standard of living and consumption.
7.
The quote by President Nixon is an excellent example of American politicians using their influence over the World Bank and other financial organizations to subjugate other nations. This mentality can be seen across much of the dealings with other nations in this region. Also such actions have degraded the political systems of the region for decades that many of these countries are becoming burdens of the world economy. if such actions were never taken this burden would never have been created.
Another section of the article discussed the flow of wealth form these nations to Europe and the U.S. This became the new form of colonialism, extracting resources form conquer nations. The article gives examples of this happening in both Africa and South America.